Alongside Vice President Joe Biden, Fisker Automotive executives announced today they'll buy GM's now shuttered Wilmington, Delaware assembly plant to develop "Project NINA," an "affordable, family-oriented plug-in hybrid sedan." So, basically, GM's selling Fisker a factory to develop a Volt-killer.

The DoE just gave Fisker a $528 million loan, part of which will bring the Fisker Karma to market in 2010, while most will go to Project NINA, a $39,900 (after tax credits) plug-in hybrid. [Fisker]